The Securities and Futures Commission (SFC) of Hong Kong has issued a warning to unlicensed providers of crypto trading services. Cryptocurrency exchange Bittrex settled charges of offering U.S. investors access to unregistered securities on Thursday, agreeing to pay a US$24 million fine within two months of filing a liquidation plan for the exchange. Xverse, a Bitcoin wallet designed to work with projects native to the coin, announced Thursday a seed funding round of US$5 million led by Jump Crypto. With this crypto daily roundup, you can jumpstart your day with the latest updates on cryptocurrencies like Bitcoin, Ethereum, and more.
Bitcoin dropped about another percent to slip below the 29,500 mark again, while Ethereum was trading slightly lower but braced the US$1.8k mark. Major altcoins like Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) saw a mix of minor jumps and dips across the board. The global cryptocurrency market cap was trading quite lower, falling to the US$1.17 trillion mark as it dropped almost a percent in the last 24 hours.
India continues to advance its mission of integrating blockchain technology with various facets of the country's economy as the Indian Ministry of Electronics and Information Technology (MeitY) has announced the launch of a competition to create a new indigenous web browser that allows users to sign documents with crypto tokens.
The Indian Web Browser Development Challenge (IWBDC) officially launched on Wednesday as an open challenge competition that "seeks to inspire and empower technology enthusiasts, innovators, and developers from all corners of the country to create an indigenous web browser with its trust store with an inbuilt CCA India root certificate, cutting edge functionalities and enhanced security and data privacy protection features," the news release said.
The Securities and Futures Commission (SFC) of Hong Kong has issued a warning to unlicensed providers of crypto trading services. Concerned about their engagement in "improper practices," the regulator also said investors should be aware that some platforms may never apply for or obtain a license.
In a notice published Monday, Hong Kong's securities and futures regulator said that some unlicensed virtual asset trading platforms (VATPs) have been engaged in "improper practices." The SFC warned the crypto firms about "potential legal and regulatory consequences."
Xverse, a Bitcoin wallet designed to work with projects native to the coin, announced Thursday a seed funding round of US$5 million led by Jump Crypto.
Other participants in the round included Franklin Templeton, the Bitcoin Frontier Fund, Old Fashion Research, and several strategic angel investors, Xverse told Decrypt in a written statement.
Xverse's wallet, available as a Chrome browser extension and mobile app, is billed as a "Bitcoin wallet for Web3."
Crypto exchange Bittrex settled charges of offering U.S. investors access to unregistered securities on Thursday, agreeing to pay a $24 million fine within two months of filing a liquidation plan for the exchange.
The SEC sued Bittrex, which filed for bankruptcy in May earlier this year, saying it simultaneously operated a securities exchange, broker, and clearinghouse without registering as any of these things with the regulator.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.